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Note 13 - Earnings Per Share
 6 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Earnings Per Share [Text Block]

13)     Earnings Per Share

 

The Company uses shares acquired through treasury stock repurchases for the issuance of shares of common stock for the settlement of awards under its stock-based compensation plans, with the net effect of these transactions accounting for the change in common stock outstanding.

 

The following table sets forth a reconciliation of the number of shares (in thousands) used in the computation of basic and diluted earnings per share:

 

  

Three Months Ended

  

Six Months Ended

 
  

December 31,

  

December 31,

 
  

2023

  

2022

  

2023

  

2022

 

Basic - Average shares outstanding

  11,791   11,852   11,762   11,833 

Dilutive effect of unvested, restricted stock awards

  67   65   129   97 

Diluted - Average shares outstanding

  11,858   11,917   11,891   11,930 

 

Earnings available to common stockholders are the same for computing both basic and diluted earnings per share. There were no outstanding instruments that had an anti-dilutive effect at December 31, 2023 or 2022.

 

Performance stock units of 89,434 and 132,217 for the six months ended  December 31, 2023 and 2022, respectively, are excluded from the diluted earnings per share calculation as the performance criteria have not been met.